Adarsh Developers has raised $181 Mn from financial institutions including HDFC Property Fund, JM Financial, Kotak Realty Fund, piramal fund management to expand the real estate developer’s portfolio in Bengaluru.
Bengaluru, 07 Feb, 2019. RedNewswire/-
Adarsh Developers is a real estate developer in Bengaluru which develops both residential and commercial properties. Its property portfolio includes apartments, villas, shopping centres, hotels, and more.
Chairman and Manging Director BM Jayeshankar said, “We have raised all the money in the last two to three quarters. We plan to raise an additional Rs 1,000 crore as we expect the market to pick up in the near future.”
The raised funds will be used to develop about 7,000 residential units including affordable and luxury houses across Bengaluru. Over the next 10 months, it plans to launch six residential projects across affordable and luxury, priced from Rs 38 lakh to Rs 3.5 crore.
Adarsh Developers has projects across commercial, residential and hospitality segments.